Mortgage Brokers and Mortgage Agents - NRS 645B
Who is required to be licensed as a Mortgage Broker under NRS 645B?
Any person who wishes to engage in any activity meeting the statutory definition of “mortgage broker” with respect to residential or commercial property is required to first obtain a license as a mortgage broker under NRS 645B, unless the person is exempt from licensure under NRS 645B.015 and holds a certificate of exemption under NRS 645B.016. For additional information concerning exemptions and obtaining a certificate of exemption, see Exemptions.
How to Obtain or Renew a License
Residential Mortgage Brokers
All initial license and renewal applications and applicable fees for residential mortgage brokers are submitted to the Division through the Nationwide Multistate Licensing System and Registry (“NMLS
”) using the Company Form (MU-1 Form
) for the principal office and the Branch Form (MU-3 Form
) for each branch location. Nevada law requires each licensed mortgage broker to have at least one licensed office located in this state.
Additional Information concerning the requirements to obtain a residential mortgage broker license and application materials may be obtained here.
Commercial Mortgage Brokers
A mortgage broker that only conducts commercial mortgage activity (loans secured by real property other than a dwelling) may submit its application for licensure or renewal and applicable fees directly to the Division. The application and further instruction may be obtained by contacting the Division.
Mortgage Agents (Loan Originators)
All initial license and renewal applications and applicable fees for mortgage agents (loan originators) are submitted to the Division through the Nationwide Multistate Licensing System and Registry (“NMLS”) using the Individual Form.
Additional information concerning the requirements to obtain a mortgage agent license and application materials may be obtained here.
Once You Have Obtained a License
A monthly activity report of all closed mortgage loan transactions for each license held with the Division is required. These reports must be submitted as an e-mail attachment in Excel Format (Excel 1997-2003) as the Division's database cannot accept a newer version.
Amendments to License
Not in NMLS (Commercial only) (submit to Division's Carson City Licensing Office):
Other Forms and Nevada Specific Disclosures
Brokers that have been licensed for less than 12 months must submit advertising using the Advertisement Submission Form